French Business Activity In January 'Weakest In Over Four Years': PMI

French business activity fell unexpectedly this month, pulling back at the fastest rate in over four years in the face of weakening demand and the impact of the 'gilets jaunes' anti-government protests, a new survey has shown.

Data compiler IHS Markit said that its preliminary composite monthly purchasing managers index (PMI) fell to 47.9 points from 48.7 in December, confounding economists' expectations on average for an improvement to 51.0.

The fall brought the index to its lowest point since November 2014 and took it further away from the 50-point line dividing a contraction from an expansion.